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97) A budget that summarizes the planned activities of all subunits of an organization. 98) A common form of master budget that adds a month in the future as the month just ended is dropped. 99) A major part of a master budget that focuses on the income statement and its supporting schedules. 100) The part of the master budget that focuses on the effects the operating budget and other plans will have on cash. 101) A statement of planned cash receipts and disbursements. 102) The result of decisions to create conditions that will generate a desired level of sales. […]

31) Assume straight-line amortization in all computations, and ignore income taxes. The internal rate of return in case Y is approximately A) 10 percent. B) 12 percent. C) 14 percent. D) 16 percent. Below are two potential investment alternatives: Case X Case Y Initial capital investment $120,000 $180,000 Estimated useful life          3 yrs.           3 yrs. Estimated terminal salvage value           -0-           -0- Estimated annual savings in cash operating costs $ 50,000 $ 80,000 Minimum desired rate of return 10 percent    12 percent Assume straight-line amortization in all computations, and ignore income taxes. 32) The payback period […]

76) Which of the following statements regarding a decision to keep existing equipment or replace it is false? A) The disposal value of the old equipment is irrelevant. B) The book value of the old equipment is irrelevant. C) The cost of the new equipment is relevant. D) Depreciation on the new equipment is relevant. 77) Which of the following would NOT be relevant to a decision to replace equipment? A) Operating costs of old equipment B) Cost of old equipment C) Disposal value of old equipment D) Acquisition cost of new equipment 78) Variable costs are A) irrelevant whenever […]

11) Which of the following is a content sharing technique in which the sender does not have any control or record of changes made to the shared content? A) email with attachments B) Windows WebApps C) Google Docs D) blog 12) Which of the following statements is true of shared content with version management? A) Content sharing methods that provide version management cannot accommodate concurrent work. B) Version management systems provide version control. C) Version management makes it impossible to know who changed the document and when. D) Systems that provide version management track changes to documents. 13) Which of […]

  51) If Capital has been credited, it is likely that: A) services were provided to a cash customer. B) services were provided to a charge customer. C) the owner made an investment. D) All of these are possible 52) If Fees Earned has been credited, it is most likely that: A) services were provided. B) the owner made an investment. C) a correcting entry for the overstatement of revenue was recorded. D) All of these are possible.   53) If Accounts Payable has been debited, it is most likely that: A) a payment was made on account. B) a […]